Twitter was just the beginning. After dreaming up the innovative social-networking medium, Jack Dorsey is looking to revolutionize another core aspect of society: money.Dorsey, the founder of Twitter, has announced that his new start-up, Square, has developed a way for anyone with a cellphone or iPod to become a merchant and accept credit card payments.
Square is a small plastic device that plugs into a gadget's headphone jack. Buyers swipe their credit cards through the device, which then transmits the payment data to an application running on a connected iPhone or iPod Touch. (Android and Blackberry apps are in development, and computer software will be available later.)
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